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Nuance Shares Slump on Weak Top Line

Written by: Chris Ciaccia11/19/12 - 4:31 PM EST

Tickers in this article:
AAPL NUAN

NEW YORK (TheStreet) -- Shares of Nuance Communications (NUAN) fell sharply in late trades after the maker of voice and language recognition software missed Wall Street's revenue expectations in its latest quarterly results.

On a non-GAAP basis, Nuance, which provides part of the technology behind Apple's (AAPL) Siri functionality, reported earnings of $164.9 million, or 51 cents a share, in its fiscal fourth quarter ended in October on revenue of $490.1 million, up 27.7% year-over-year.

Analysts polled by Thomson Reuters were looking for a profit of 48 cents per share on sales of $496.5 million in the quarter.

Nuance's overall results were helped by the performance of its mobile and consumer solutions business, which saw non-GAAP revenue rise 28.2% year-over-year to $152.2 million. Health care was another standout for Nuance, with this segment seeing a 27.6% rise in non-GAAP revenue to $189.7 million